New York, USA (CWBN)_ Sources within the Trump administration declared on Friday (4th Dec) that they would not be providing TikTok’s parent company, ByteDance, an extension to the order requiring that it dissolves its assets in the US.
Nonetheless, negotiations between the US government and the company would proceed as planned.
The US Treasury Department stated last night that the Committee on Foreign Investment in the United States (CFIUS) will be “engaging with ByteDance to complete the divestment and other steps necessary to resolve the national security risks”.
The announcement was made following the one-week extension granted to the company last week. Further, the company has been granted several extensions to the initial 90-day deadline, which fell on the 12th of last month.
